Net income down but AUA up in Q1, reports ATB Financial

But net income was down compared to a year earlier

By Staff | August 17, 2018 | Last updated on August 17, 2018

1 min read

Alberta-based ATB Financial’s net income was down compared to a year earlier for its first quarter ended June 30, the institution reported.

That was primarily due to “higher loan loss provisions,” it said in a release, but “there are signs of improvement as support for Albertans and the province’s entrepreneurs continues to be a priority.”

For example, loans were up 8.3% compared to last year, ATB reported, as were deposits, which amounted to $34.5 billion, up from $33.7 billion the year before, for the quarter.

The institution also hit a milestone during the quarter, ATB said, by surpassing 100,000 business customers overall.

Further, ATB Investor Services reported $19.4 billion in assets under administration, an increase of 12.7% compared to a year earlier.

Read ATB’s full Q1 results.

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